The global vision sensor market is projected to grow at a CAGR of 13.43% during the forecast period. As per the vision sensor market research report, the global market for vision sensor is projected to grow swiftly by US$3.87 billion by 2024. According to analysts, the rise in demand for smart manufacturing as well as new partnerships and new product development will drive the market growth during the forecast period. The vision sensor market research report offers a comprehensive analysis of the global vision sensor market and its application, type, and end-users segments. The slow adoption of automation technologies along with lack of awareness are the elements that could influence the vision sensor market advancement throughout the forecast period. The vision sensor market research report by expert analysts is developed to assist organizations in the vision sensor market.
The global Vision Sensor Market has been segmented based on application, type, and end-users. On the basis of application, the market for vision sensor is segmented based on code reading, gauging, localization, object recognition, inspection, and others. Additionally, the market on the basis of type, is segmented into 3D sensor, code readers, color sensor, monochrome sensor, pixel counter sensor, and contour sensor. The global market for vision sensor is also covered based on end-users segment which is further split into consumer electronics, electronics & semiconductor, food & packaging, pharmaceutical, automotive, and others.
Major elements such as budget constraints could obstruct the vision sensor market growth. However, according to the vision sensor market research report, increased productivity at low cost along with rapid growth in the number of smart factories will propel growth throughout the forecast period. The vision sensor market is set to register growth at a high CAGR owing to these key factors. The exploration of application, type, and end-users segments along with regional markets has been given in the global vision sensor market research report. The research analysts studying the vision sensor market have put out market forecasts in the vision sensor market research report in order to support vision sensor market-based companies. The vision sensor market research report provides an extensive understanding of the vision sensor market based on the information and forecasts till 2024.
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The global market for vision sensor is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the vision sensor market has been done for North America, Europe, Asia-Pacific, and the rest of the world.
North America dominated the market in 2018; it is expected to dominate the vision sensor market throughout the forecast period. Machine vision systems are extensively implemented in the automotive and food and packaging industries, creating high demand for vision sensors. Adoption of Industry 4.0 and smart factory projects in the region are some of the factors leading to the growth of vision sensors market. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Manufacturers in China and Japan are rapidly adopting automation in manufacturing plants which is leading to the growth of the product.
The key players profiled in the Vision Sensor Market are Cognex (US), Keyence (Japan), Sick AG (Germany), Omron (Japan), Teledyne (US), Baumer (Switzerland), Datalogic S.p.A. (Italy), IFM Electronic (Germany), Balluff GmbH (Germany), and Basler AG (Germany). These players contribute a major share to the growth of the vision sensor market. The other prominent companies in the vision sensor market include Hans Turck GmbH & Co. KG (Germany), Leuze electronic GmbH+Co. KG (Germany), Pepperl+Fuchs GmbH (UK), and SensoPart (Germany) among others.
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